One Canadian Housing Market is Not Slowing Down The average price of a house in the Northwest Territories (NWT) comfortably crossed half a million dollars in September, 2023, a 40% jump from $385,500 a year earlier. However a house in NWT still costs below the country-wide average of ...
Soaring prices suggest more profits for investors, but they also mean that housing is often out of reach for home buyers. Between 2015 and the fourth quarter of 2023, house prices had outgrown the nominal disposable income by 39 percent. This rapid increase has earned Toronto a spot as one ...
"You won't get back to an affordable range for housing on a sustained basis for a decade," Tony Stillo, director at forecasting and analysis group Oxford Economics, said last week at a conference. Many Canadians have been priced out of the housing market since inte...
Canada Housing Market: December Cooling and 2025 Forecast Written by Yousaf Iqbal, Head of IGI CanadaIn December 2024, Canada's housing market cooled, with sales down 5.8% from November but up 10% for Q4. The average home price was $676,640, a 2.5% year-over-year increase, with the ...
Canada’s affordable housing crisis worsened in 2023 as the vacancy rate for rental apartments dropped to an all-time low and rent increases climbed to a record high. Article content Canada’s rental housing market has emerged as the epicenter of a national cost of living crisis, increasingly ...
The average house price in Canada declined in 2023 after increasing for several consecutive years. Nevertheless, home prices are forecast to rise by 2025.
By 2022, rising inflation led the Bank of Canada (BOC) to raise interest rates, putting strain on the housing market. Single-detached starts dropped to 21,016 units in 2023, reflecting decreased affordability due to higher borrowing and construction costs. The Teranet index showed a moderated pr...
As reported by the industry experts, the national average home price broke an all-time record in February 2022 as Canadian home prices continue to rise across the country. For February 2022, the average home price in Canada's housing market was USD 816,720, up 20.6% from 2021. In February...
Housing markets have already corrected lower. And the manufacturing sector looks poised to soften as spending on physical merchandise cools, particularly in the U.S., the world’s biggest consumer market and destination for 75% of Canadian exports (65% of which are ‘manufactured’ products). ...
Interprovincial migration shows strong movement to Alberta driven by its more affordable housing. The demographic growth has a positive impact on the local economy. So even though office availability is still elevated, there is good leasing momentum that is driving improvement in that market. ...